Ares Buys Two Fully Leased Miami Warehouses for $109M
By Julia Echikson September 4, 2026 12:40 pm
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Ares Management has acquired two fully leased warehouses in Miami-Dade County from BGRE for a combined $108.7 million, property records show.
In the larger transaction, the L.A.-based asset manager paid $65.3 million for a 230,147-square-foot, 15-acre distribution center at 3811 West 108th Street, located between Florida Turnpike and Interstate 75 in Hialeah.
National retailer Target is the distribution center’s sole tenant after signing a 10-year lease in 2022 with two five-year extension options, according to county records.
In the second sale, Ares Management paid $43.4 million for a 142,472-square-foot, 8-acre warehouse about 13 miles south at 13190 Northwest 17th Street, west of the Florida Turnpike, near Sweetwater. E-commerce parcel delivery company LaserShip has leased the entire property.
BGRE, formerly called Brookfield Properties, developed both buildings, completing them between 2022 and 2023.
Since opening an office in Miami Beach in 2024, Ares Management has been making inroads in South Florida’s industrial market. Last year, it purchased a 230,976-square-foot warehouse in Weston for $56 million as well as a 456,219-square-foot industrial portfolio in Broward County for $121 million.
A spokesperson for Ares declined to comment, while a representative for BGRE did not immediately respond to requests for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
